Franklin Street Advisors Inc. NC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

11 Oct 2024, 20:20 by Kim Johansen · The Markets Daily

Franklin Street Advisors Inc. NC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 49.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,483 shares of the home improvement retailer’s stock after selling 27,183 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Lowe’s Companies were worth $7,444,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Bamco Inc. NY increased its position in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd boosted its position in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares in the last quarter. 17 Capital Partners LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at about $1,368,000. Gerber LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth about $235,000. Finally, Lincoln National Corp increased its position in Lowe’s Companies by 1.5% during the 1st quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock worth $2,835,000 after purchasing an additional 169 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock traded up $1.88 on Friday, reaching $275.09. 85,592 shares of the company were exchanged, compared to its average volume of 2,458,700. The company has a market cap of $156.06 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 2.28 and a beta of 1.10. The business has a 50-day moving average price of $252.10 and a 200 day moving average price of $237.64. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $278.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business earned $4.56 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LOW shares. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Bank of America dropped their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Finally, UBS Group lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $265.63.

Read Our Latest Report on LOW

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

About Lowe’s Companies

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